Bitcoin, the world’s largest and most valuable cryptocurrency, could breach $90,000 over the coming months, American crypto pioneer Nick Spanos has said.
On Thursday, Spanos, best known for founding Zap Protocol and the Bitcoin Center NYC (the world’s first physical Bitcoin exchange), said that he expects so-called crypto winters to pass by much more quickly than in the past.
“Even if the bottom isn’t quite here yet, it will be soon,” he said.
“The bust cycle ‘crypto winters’ are going to pass by more quickly than in the past, as general upward momentum of non-price fundamentals is sustained.
“Once-scared newcomers realize that Bitcoin is bigger than Elon Musk — or even a certain Communist nation’s diktat. In this story, the forgotten people and the marginalized nations are going to be the victors.
“So a place like El Salvador is going to be punching far above its economic weight very soon.”
Continuing, Spanos said he expects the market to become more resilient to Musk’s tweets as more and more people become educated on crypto and therefore less likely to fall for misconceptions being peddled on social media.
“At this point it’s about education, so that fearmongering tweets from one person don’t pour fuel onto popular misconceptions.
“His currency in the crypto space might go to zero, but Bitcoin will go to the moon. In fact, it might even get to Mars before he does.
“My analysts predict the price could very well breach the $90,000 mark by the end of the year.”
Earlier this month, Spanos slammed Musk for harming “countless people less fortunate than he in his selfish shilling and moves to get cheaper coin”, suggesting that the Tesla CEO criticised Bitcoin for damaging the environment only so he could buy more BTC at a cheaper price.
“Musk harmed countless people less fortunate than he in his selfish shilling and moves to get cheaper coin,” Spanos told Cointelegraph.
“People believe in Bitcoin because it’s a path to monetary independence from central banks, and he’s attacking their trust with reckless tweets and abuse of influence. Instead of being a role model, he is revealing less favorable primal characteristics,” the Zap Protocol founder added.